Samsung Total Enters China
Samsung Total, one of the largest petrochemical producers in South
Korea, has announced it will start production and sales this year in
China. A joint venture between Samsung Group and France's Total, it
will invest USD10.70m in a polypropylene plant with an annual
production capacity of 28,000 tonnes. Construction will start this
month, The Economic Times writes. As reported last week,
South Korea's largest refiner SK Energy said it has entered a joint
venture with Sinopec to build an ethylene facility in Wuhan.
Six Pilots Must Pay RMB10m For Resignation
Five captains and a first officer will have to pay a cumulative RMB9.65m to their employer Air China, an arbitration session of the Xiashan District People's Court ruled. The pilots reportedly wanted to quit last October, but Air China refused to let them go and demanded a compensation of RMB35m. State media writes that airlines "often require pilots to sign contracts lasting up to 99 years," leaving the employees little choice but to pay big money to resign.
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